Casey: Rising Wages Could Spell Trouble for Fed

WSJ's Michael Casey explains how rising wages, while good for workers, could mean trouble for the Federal Reserve. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... been been been been BdB ... one of the most persistent rains ... this entire recovery here the US is been weak wage growth ... there are some signs that we ... may finally be picking up ... at our Michael Casey says that's going to complicate things for Janet Yellen Fed ... prizes calmness joins us right now Mr Casey INFA I'm very skeptical about these numbers on the wages have risen because this is being ... the ultimate ... a waiting game where we find out that the net and act as a porno economy Whitman median household incomes are really not been aware of nine sixty ... so it so this is one of the get excited about really ... bought the trend is is your friend or your enemy did admit it here what what side of the fence ... and in fact we are seeing some of the early indicators ... of what it's worth the visit is the number that the BLS that the Bureau of Labor Statistics the juices ... through population civic what the performance of its monthly by the Senate ... showing that um the the usual weekly earnings measure ... is now up three percent year-on-year is the first time it's been that much higher ... since the recession ... and yet look let's let's be optimistic for central and see that trend is is ... do this all is going to continue what is that you for the Federal Reserve ... if the economy it was due to the man is a challenge to get his challenge ... that the reason why we focus on unemployment and payroll has little if it does is because buses was to be really indicators all wage pressure ... got as what happens to those of unemployment still stays ... high and payrolls on prefaced it with Odyssey ways trends ... all ... we have to act that is been rezoned it so that's what they have to do ... so it was the signaling an end to worry about it this is Jerry on stocks I ... will say we aren't seeing a bit of wage that precious time to emerge about the good thing we are noticing that even that ... is enough for related Chinese what the future about the right boxes ... that could have ... a ... profound impact on the bottom ... book a timeframe do you think are looking at ... the dentist's being optimistic assuming that these wage numbers are dorky or ... what time from the Fed were looking at we might see or something ... like that ... I knew ... that that that that's the Billy goat question write a mean ... it ... deftly I ... didn't see what what what what when it could be quite soon I think this is the thing that was the thing is it because that that that this love is for research but coach Rebecca Michelle and ... their colleges between these ones that haven't Renaissance and other ones maybe they'll wait to see if this on to some analysts are the key ones the employment cost index which ... measures everything that cost employer to pay some including benefits and those of being suppressed ... but this is leading fact it was a Stasi some of those pickup maybe they will ... the the the bottom line is that this that this that in a rising view that ... the ... entire mid two thousand fifteen the baby in the first quarter due which the Fed's rate cuts from my have to be brought forward ahead and if the Fed stopped the signal anything to that effect it's it's kinda have a IIa ... in ... a very shop impact on bond fund ... my good stuff think you're in luck ...